Latest Forecast projects £20 billion added to annual output by 2017

The Association’s central forecast expects output to rise 3.4% during 2014 and a further 5.2% in 2015. Thereafter, output is projected to increase by 4.4% in 2016 and 3.8% in 2017. The latter year projections are subject to greater uncertainty due to issues surrounding the sustainability of the wider economic recovery, private housing policy, and potential delays in the energy infrastructure sub-sector. Key Growth Areas:

Private housing starts to rise 16.0% in 2014 and 10.0% in 2015

Commercial offices output to rise 7.0% in 2014 and 10.0% in 2015

Infrastructure output to grow 39.7% by 2017

Private housing repair, maintenance and improvement is expected to grow 3.5% in 2014 and then 4.0% per year until 2017

Retail sub-sector output growth of 2.0% is forecast in 2014, with 5.0% rises expected in 2016 and 2017

Factories growth of 6.0% is forecast for 2014; thereafter, 5.0% per year growth is projected until 2017